Discover and read the best of Twitter Threads about #Eth1

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🚨 ETH Merge AND Potential Airdrops🪂

"The #Merge" is an upgrade to Ethereum that swaps out the current proof-of-work (#PoW) consensus mechanism with a more eco-friendly, efficient, and secure proof-of-stake (#PoS) consensus mechanism.

#Airdrop #Alpha 🚨🚀🍻 🧵⚡️ Image
When the merge occurs the current #PoW consensus mechanism will be fully deprecated and all blocks on Ethereum will be produced via #PoS.

#WEN MERGE? ⌛️
If all goes smoothly, #Ethereum developers expect the merge to take place during the week of September 15, 2022 Image
Now that the #merge is actually happening and people seem to be super excited about it, obviously, some people didn't like that idea and decided to do their own #fork out of #Ethereum. The good news here is we can win something out of this once happens.🪂🍻 Image
Read 8 tweets
Why is #ETH dumping? 🫤

Something is not right with Ethereum recently!

Why has #ETHEREUM taken maximum hit after #LUNA crash amongst Large Cap Coins? 😵‍💫

Let's find out the top 3 reasons in this #Thread! 🔍

#Price #Predictions on last thread! 📈
1) #Eth Time Difficulty Bomb #Delayed 🧐
EIP 3238: Inbuilt into Eth is a difficulty time bomb that makes Eth Mining increasingly more difficult. The time it takes to mine a new block will be so long that profitability for miners will drop, and transactions will be too slow.
Developers want miners to stop mining #Eth1.0 and move over to #Eth2.0 upon release. Else, miners could continue using Eth 1.0, similar to the split seen with #Eth & #ETC. Due to delay in Time Difficulty Bomb, Eth 2.0 is directly or indirectly getting delayed, which is not + 😵‍💫
Read 11 tweets
1/15

❌Los términos #Eth1 y #Eth2 (Ethereum2.0) se están eliminando.

📢 La Fundación @Ethereum indica que desde ahora debemos utilizar:

🔸Eth1 → Execution layer (Capa de ejecución)
🔸Eth2 → Consensus layer (Capa de consenso)
🔸Execution layer + consensus layer = Ethereum

🧵
2/15

¿Por qué ocurre esto?

#Ethereum siempre tuvo planes para escalar la red de forma descentralizada y hacer la transición a #PoS. Los investigadores trabajaron en esto por separado, pero alrededor de 2018 se combinaron en un roapmap único bajo el paraguas de "Ethereum 2.0".
3/15

Como parte de ese roapmap, la blockchain de #PoW (Eth1) eventualmente quedaría obsoleta a través de la bomba de dificultad. Los usuarios y las aplicaciones migrarían a una nueva red de Ethereum de #PoS, conocida como Eth2.
Read 15 tweets
🎉🎉 Lighthouse produced its first #Eth1 & #Eth2 merge transaction 🎉🎉

This is an ETH tx using *only* proof-of-stake validators. A step towards a 99.98% drop in Ethereum energy consumption 🌏🌲🌄

Credits to @gballet, @mkalinin2 & @Teku_ConsenSys!

Important qualifications 👇 Image
This is exciting, but it doesn't mean that we're ready for production. This is a prototype and there's still a lot of questions to answer and work to do.

Primarily, you should take this is a signal that Eth1 and Eth2 developers are actively working together on the merge. 🧑‍🤝‍🧑
They got a shout-out earlier, but don't forget that Teku also achieved the same thing in the initial prototype.

Read 8 tweets

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